Extra protection to stay dry
on the rainiest of days.
It’s all fun and games till your guest throws a propane tank on the bonfire - and you’re held responsible.
Umbrella insurance, otherwise known as a Personal Umbrella Policy (PUP), is for days like this - when the drastically unexpected happens and you are on the line for medical and legal expenses.
In a nutshell, liability insurance is protection against claims resulting from injuries and damage to people, property, or both. Your home and auto policies afford you some protection under their liability coverages. But when the damages exceed the limits of those policies, extra protection is in order.
Umbrella insurance, which offers liability and medical coverage above and beyond that included in personal home, auto, recreational and boat policies, is both necessary and surprisingly affordable. Why is it necessary? Year after year, more lawsuits are are being filed and larger judgments are being awarded. When you have an umbrella policy in place, you are protecting your assets in the event that you are sued. It often also covers damage claims that are typically exempted from standard policies. Personal umbrella policies are typically issued in one million dollar increments, usually in the one to five million dollar range.
In the actual incident cited in the headline above, $20 million was awarded because the homeowners were considered negligent even though it was a guest who caused the injuries and destruction. When it comes to litigation, you just never know which way the rain will blow.
Our dedicated independent agencies can accurately assess your umbrella insurance needs and, should a claim ever arise, be your advocate throughout the process. Discover the USA Insurance Network agency nearest you to shop locally for superior service and expert knowledge.